Amsterdam is attracting increasing interest as a core listing location within Europe. It's not difficult to see why. The city’s Euronext stock exchange is an easily accessible platform, with very competitive rates, making it an attractive market from which to attract equity and so grow businesses.
At the same time, Special Purpose Acquisition Companies (SPAC) are rapidly gaining popularity as a less burdensome, more stable route to public listing. Also known as "blank check companies", a SPAC is a company with no commercial operations, formed to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. From an investor perspective, SPACs are a compelling alternative because they allow the investor to co-invest with industry insiders who have the experience, contacts and market knowledge to identify and complete transactions with interesting targets. Additionally, a blank check company listing takes less time than a traditional Initial Public Offering (IPO) and gives you more price certainty.
Amsterdam is a perfect location in which to register SPACs. Dutch flexible listing rules are very similar to those found in the US — the world's largest SPAC market — and the Netherlands is fortunate enough to be home to many experienced financial and legal advisers. US SPAC teams are also attracted to the European market for two other reasons. Firstly, it is not as saturated as in the US, and secondly, there is a common perception that companies in Europe are undervalued at present.
Our expert global team can help you briskly conduct a SPAC transaction, and assist with the initial IPO and lifespan of the SPAC, including escrow agent services and submission of all reporting requirements stipulated by Euronext, relieving you of burdensome regulatory and administrative details, so that you can focus on the big picture.
The SPAC boom is also heading towards Asia, with Singapore set to become an important SPAC hub. Singapore is fast-tracking legislation to support SPACs and is expected to be in a position to announce concrete plans for SPAC listing by the end of 2021. At present, Singapore has some restrictions in its regulatory framework that may need to be restructured to attract SPACs. However, with Asian SPACs limited to listing in the US or China, Singapore would offer local start-ups an alternative option that is closer to home.
As a management-owned boutique firm, with offices in both countries and other main financial hubs in the world, we act swiftly and independently, providing a personalized and proactive approach throughout the two phases of our SPAC services.
During the first phase of the process, we take care of all matters related to the formation and maintenance of your SPAC, including provision of a corporate managing director if needed. We can also set up your accounting and reporting system and procedures, assist with the escrow account and guide you carefully through a review of the procedural, operational and compliance matters related to your SPAC — while always keeping your business goals at the forefront of our minds.
Throughout the second phase, we can maintain your SPAC, until your merger or acquisition is completed. Our expert team does this by keeping your SPAC in compliance with the powers and obligations set out in the IPO documents; working together with the sponsor while liaising with the relevant authorities, and your trusted advisors and assisting with the preparation and submission of all reporting requirements stipulated by Euronext. Next to such, we can act as your escrow agent for the escrow account or provide corporate services (provision of registered address and directors, accounting) to additional HoldCo’s or BidCo’s.
We place the strongest possible value on long-lasting relationships based on mutual trust. As a result, our expert team will provide you a tailored service to ensure that all regulatory requirements and reporting for your SPAC setup are covered, which leaves you free to concentrate on servicing your clients and growing your business.